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China auto sales to hit 17 million in 2010, CAAM says

  From CapitalVueNovember 30, 2010

China is expected to record auto sales volume of more than 17 million units this year, reports, citing data released by the China Association of Automobile Manufacturers (CAAM).

The auto sales volume is expected to exceed 25 million units by 2015.

China’s dependency on imported oil will rise from 50 percent to 60 percent or higher with the increase in domestic auto sales, according to Li Yang, a commentator on the auto industry.

Shares of Chongqing Changan Automobile (000625) were down 1.95 percent to trade at 11.05 yuan at 10:22 am yesterday.

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